Saigon Co.op targets $1.2 billion of revenue in 2016

Monday, Mar 14, 2016 17:00

Saigon Co.op receives the Emulation Flag from the Ministry of Industry and Trade yesterday for its outstanding performance last year. — VNS Photo

HCM CITY (Biz Hub) — The country's leading retailer Saigon Co.op has set a target to achieve VND26.786 trillion (US$1.2 billion) in revenue and open five Co.opmart supermarkets and 20 Co.op Food stores this year.

Despite economic difficulties last year, Saigon Co.op achieved all of its targets, including revenue of more than VND25 trillion (over $1.12 billion) and raised per capita earning of its employees by 7-11 per cent.

It opened eight Co.opmart outlets and 10 Co.op Food stores, raising the number of stores to 80 and 96 respectively, and SC VivoCity shopping mall in District 7, together with its Singapore partner.

Last year, Saigon Co.op was the first retailer from Viet Nam to be recognised as one of the top 200 retailers in the Asia-Pacific by Retail Asia Publishing.

Speaking at a meeting in HCM City on March 11, Diep Dung, Saigon Co.op's chairman, said that deeper international integration, there would be fierce competition in the retail market this year.

Saigon Co.op would continue to expand its distribution network and enhance co-operation with domestic and foreign partners to diversify business models, he said.

It would also focus on restructuring its organisation, improving the quality of goods, services and managerial capacity, and would develop human resources and logistics services.

Le Van Khoa, deputy chairman of the HCM City People's Committee, hailed Saigon Co.op's achievements, saying it had greatly contributed to the city's economic development, the success of the city's price stabilisation programme and a pilot programme on safe food supply chain.

He urged the company to intensify co-operation with domestic producers to produce more good quality products and expand the distribution of safe products.

Saigon Co.op yesterday received the Emulation Flag from the Ministry of Industry and Trade for its outstanding performance last year. — VNS

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